Sui Price Drops As Ecosystem News Collides With Market Selloff, Momentum DEX Raises $100M

Sui SUI/USD fell 7.3% to $3.10, undercutting a support zone as trading volume surged. The decline followed failed attempts to hold $3.20, and a broader market pullback led by Bitcoin BTC/USD and Ethereum ETH/USD. Selling pressure intensified as technical and on-chain signals clashed with ecosystem developments like Momentum DEX's funding and collaboration in Dubai.

Over the past month, Sui climbed from under $2.50 to a local high of $4.29 before stalling. Last week’s 14% retracement erased most momentum, and a weak rebound to $3.20 earlier this week failed to stick. Price now hovers above the $3.00 psychological level, with a breakdown risking a move to $2.50 or lower.

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Chart analysts are watching a possible head and shoulders pattern unfold. A confirmed breakdown below $3.00 could accelerate the downside toward $2.00, a 35% retrace from recent highs. Reclaiming $4.00 would invalidate the setup and open a path back to $4.20. Open interest in SUI futures rose 12% to $520 million since June 4, heightening the risk of volatility as leverage builds.

Technical indicators show a bearish cypher pattern forming on the four-hour chart, with the C leg near $2.95–$3.00. The zone is a battleground as a hold could spark a rebound to $3.59 or $3.73 before resistance resumes. Failure below the level opens the door to $2.33.

Broader market sentiment is weighing on altcoins. Bitcoin slid toward $103,000 while Ethereum dipped below $2,600, as traders booked profits ahead of U.S. inflation data. Sui followed suit, reflecting macro-driven caution even as ecosystem updates turned heads.

Momentum DEX, a decentralized exchange built on Sui, closed a $100 million funding round led by OKX Ventures. Backers included Coinbase Global Inc's COIN Coinbase Ventures, Protagonist, DNA Fund, Gate Ventures, MEXC Ventures, and KuCoin Ventures. The rise points to growing institutional interest in Sui-based infrastructure.

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Sui announced a collaboration with Dubai’s Virtual Assets Regulatory Authority to support Web3 development in the Middle East. The initiative includes talent programs, startup support, and regulatory sandboxing, all aligning with Dubai’s ambition to lead in blockchain innovation.

Nautilus, an offchain computation tool using Trusted Execution Environments, launched on Sui Mainnet. It enables verifiable data processing and tamper-proof oracles, targeting long-standing issues around trust in offchain-to-onchain data flows.

According to blockchain security firm SlowMist, Web3 projects saw $266 million in breaches in May 2025. The Cetus Protocol exploit hit Sui’s liquidity pools, prompting a wave of audits and updates. While efforts to restore trust are underway, persistent vulnerabilities could deter cautious investors and draw regulatory heat.

Total value locked declined 5% in early June, from $862 million to $820 million. Daily active addresses jumped 22% to 125,000, driven by gaming activity. Whale transfers of over 10 million SUI tokens rose 45% in the past day, reflecting repositioning ahead of key macro data.

Sui’s outlook hinges on key price levels. Holding above $2.95 support while ecosystem traction builds could stabilize sentiment. A breakdown risks a flush to $2.50 or $2.33. With inflation data looming and volatility elevated, traders should focus on $3.10–$3.20 resistance and $2.90–$2.95 support for directional cues.

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